United Tech to quickly repatriate $2 bln under new tax law: CFO

United Tech to quickly repatriate $2 bln under new tax law: CFO

Brendan McDermid

The maker of Pratt & Whitney aircraft engines, Otis elevators and Carrier air conditioners said it will use the cash to reduce borrowing for its acquisition of avionics and seating supplier Rockwell Collins

, and to pay down debt on that purchase faster than it would have otherwise, Johri said in an interview as the company released fourth-quarter earnings.

(Reporting by Alwyn Scott; editing by Jason Neely)

TOP READS FROM THE FISCAL TIMES